Core Viewpoint - Fortuna Mining Corp. has released an updated Mineral Resource estimate for the Diamba Sud Gold Project in Senegal, indicating significant increases in both Indicated and Inferred Mineral Resources as of July 7, 2025 [1][8]. Summary by Category Mineral Resource Estimates - The Diamba Sud Gold Project contains an Indicated Mineral Resource of 14.2 million tonnes (Mt) at an average gold grade of 1.59 grams per tonne (g/t), equating to 724,000 ounces of gold [3][6]. - The Inferred Mineral Resource is estimated at 6.2 Mt with an average gold grade of 1.44 g/t, containing 285,000 ounces of gold [3][10]. - The Indicated Mineral Resource has increased by 53% since year-end 2024, while the Inferred Mineral Resource has seen a 93% increase over the same period [8]. Drilling and Resource Expansion - The updated estimate is based on new drilling conducted from July 2024 to July 2025, involving 243 holes and totaling 31,652 meters [4]. - New resource estimates for the Southern Arc and Moungoundi deposits have been introduced, with initial Inferred Mineral Resource estimates of 194,000 ounces and 31,000 ounces of gold, respectively [8][10]. Economic Analysis and Future Plans - A Preliminary Economic Analysis (PEA) is currently underway, with completion expected in the fourth quarter of 2025 [8]. - Exploration drilling at Southern Arc is ongoing, focusing on infilling and expansion drilling to upgrade Inferred Resources and explore open mineralization [9]. Geological Interpretation and Methodology - Infill drilling has improved geological interpretation and supported the conversion of Inferred Resources to Indicated Resources [9]. - The resource estimate incorporates data from 1,178 diamond and reverse circulation drill holes, totaling 154,814 meters, completed since 2019 [11]. Price Assumptions and Cost Refinements - The long-term gold price assumption has been increased to $2,600 per ounce, which, along with refinements to mining and processing costs, has contributed to updated pit shell optimization [9][26].

Core Viewpoint - Fortuna Mining Corp. will release its financial statements and MD&A for Q2 2025 on August 6, 2025, after market close [1] Financial and Operational Results - A conference call to discuss the financial and operational results will take place on August 7, 2025, at 9:00 a.m. Pacific time [2] - The call will be hosted by key executives including Jorge A. Ganoza, President and CEO, and Luis D. Ganoza, Chief Financial Officer [2] Conference Call Details - Date: August 7, 2025 - Time: 9:00 a.m. Pacific time | 12:00 p.m. Eastern time - Toll-Free Dial-in Number: +1.888.506.0062 - International Dial-in Number: +1.973.528.0011 - Access Code: 238089 - Replay options available until August 21, 2025, for toll-free and until August 7, 2026, for the webcast [4] Company Overview - Fortuna Mining Corp. is a Canadian precious metals mining company with three operating mines and exploration projects in Argentina, Côte d'Ivoire, Mexico, and Peru, as well as the Diamba Sud Gold Project in Senegal [5] - The company emphasizes sustainability in its operations and stakeholder relationships, focusing on efficient production, environmental stewardship, and social responsibility [5]

Core Viewpoint - Fortuna Mining Corp. will release its financial statements and MD&A for Q2 2025 on August 6, 2025, after market close [1] Financial and Operational Results Discussion - A conference call to discuss the financial and operational results will take place on August 7, 2025, at 9:00 a.m. Pacific time [2] - The call will be hosted by key executives including Jorge A. Ganoza (President and CEO) and Luis D. Ganoza (Chief Financial Officer) [2] Conference Call Details - Date: August 7, 2025 - Time: 9:00 a.m. Pacific time | 12:00 p.m. Eastern time - Toll-Free Dial-in Number: +1.888.506.0062 - International Dial-in Number: +1.973.528.0011 - Access Code: 238089 - Replay available until August 21, 2025, for toll-free and until August 7, 2026, for the webcast [4] Company Overview - Fortuna Mining Corp. is a Canadian precious metals mining company with operations in Argentina, Côte d'Ivoire, Mexico, and Peru, and the Diamba Sud Gold Project in Senegal [5] - The company focuses on sustainability, producing gold and silver while emphasizing environmental stewardship and social responsibility [5]

Core Insights - Avino Silver & Gold Mines Ltd. (ASM) reported a silver-equivalent production of 645,602 ounces in Q2 2025, a 5% increase from Q2 2024, driven by record mill throughput [1][6] Group 1: Production Details - Silver production decreased by 3% year-over-year to 283,619 ounces, while gold production increased by 17% to 1,774 ounces [2] - Copper production rose by 12% year-over-year to 1.46 million pounds [2] - Mill throughput increased by 36% to 190,987 tons, attributed to upgrades and automation enhancements [2][6] Group 2: Financial Performance - The Zacks Consensus Estimate for Q2 revenues is $18.3 million, reflecting a year-over-year increase of 23.7% due to higher production and increased gold and silver prices [4] - The estimated quarterly earnings are projected at 3 cents per share, unchanged from the previous year [4] Group 3: Company Updates - ASM commenced drilling at the Avino Mine in April 2025, planning for nine holes to test vein extensions at depth, and deployed a second drill at La Preciosa [3][6] - As of June 30, 2025, ASM had approximately $37 million in cash and remains debt-free [3] Group 4: Market Performance - ASM's share price has surged by 243.7% over the past year, significantly outperforming the industry's growth of 15.9% [5]

Core Insights - Buenaventura Mining (BVN) reported its second-quarter 2025 production and sales figures from its operating mines, highlighting mixed performance across different sites [1] Group 1: Mine Performances - Gold production at the Orcopampa mine decreased by 30.2% year-over-year to 12,270 ounces, with sales of 12,158 ounces; the company expects 2025 production to be between 48,000 and 52,000 ounces [3][11] - El Brocal mine produced 5,581 ounces of gold, a 40.2% increase year-over-year, and silver production rose by 25% to 390,486 ounces; copper production was 13,079 MT, down 1% year-over-year [4][11] - Tambomayo's gold production fell 66.6% to 2,985 ounces, and silver production dropped 49.7% to 191,181 ounces due to processing delays; the company maintained 2025 production expectations for gold at 12,000-15,500 ounces and silver at 1.2-1.5 million ounces [6][7][11] - Coimolache mine saw a significant increase in gold production, rising 77.9% to 13,149 ounces, with sales of 13,440 ounces; production guidance for 2025 remains at 50,000-55,000 ounces [8][11] - Julcani mine's silver production decreased by 32.3% year-over-year to 299,697 ounces, with sales of 282,420 ounces; the expected silver production for 2025 is between 1.5 and 1.8 million ounces [9] Group 2: Sales and Guidance - In Q2 2025, Buenaventura sold 3,244 ounces of gold, 309,222 ounces of silver, and 12,439 MT of copper from the El Brocal mine; the company expects gold production from El Brocal to be between 18,000 and 20,000 ounces and silver production at 1.4-1.6 million ounces for 2025 [5] - The company maintained its overall production guidance for 2025, with expectations for gold production across its mines to remain stable despite the mixed results in Q2 [11] Group 3: Stock Performance - Buenaventura's stock has gained 5% over the past year, compared to the industry's growth of 10.7% [10]

Core Insights - Endeavour Silver Corporation (EXK) produced 2.5 million silver-equivalent ounces (AgEq) in Q2 2025, a 17% increase year-over-year, attributed to the addition of the Kolpa operation in May 2025 [1][8] Production Performance - Consolidated silver production rose 13% year-over-year to 1,483,736 ounces; however, excluding Kolpa, production decreased by 16% [2] - Guanaceví's silver production was 997,875 ounces, down 17% year-over-year, while Bolanitos saw a 10% decline to 105,223 ounces [2] - Total gold production fell 26% year-over-year to 7,755 ounces, with Bolañitos down 34% to 4,193 ounces and Guanaceví down 16% to 3,562 ounces [3] Sales and Inventory - Total silver ounces sold increased 21% year-over-year to 1.48 million ounces, while gold sales decreased by 22% to 7,706 ounces [4] - At the end of the quarter, the company held 242,980 ounces of silver and 701 ounces of gold in bullion inventory, along with 24,970 ounces of silver and 399 ounces of gold in concentrate inventory [4] Financial Updates - Endeavour Silver announced a deal to sell up to $60 million worth of common shares over the next 24 months through at-the-market distributions on the New York Stock Exchange [5][6] - The proceeds will be used for the evaluation and development of Pitarrilla and Parral properties, covering cash shortfalls during the ramp-up of operations at the Terronera project, and for exploration and working capital needs [6] Stock Performance - EXK shares have gained 12.4% over the past year, outperforming the industry growth of 6.6% [7]

Core Viewpoint - Fortuna Mining Corp. reported its production results for Q2 2025, highlighting a total consolidated gold equivalent ounces (GEO) production of 75,950 ounces, with ongoing operations contributing 71,229 ounces, and reaffirmed its annual production guidance for 2025 in the range of 309,000 to 339,000 GEO [1][3][4]. Production Highlights - Consolidated GEO production for the first half of 2025 totaled 179,409 ounces, including lead and zinc by-product credits [3]. - Ongoing operations in Q2 2025 produced 71,229 ounces of GEO, compared to 70,386 ounces in Q1 2025 [4]. - The Séguéla Mine in Côte d'Ivoire produced 38,186 ounces in Q2 2025, while Lindero Mine in Argentina produced 23,550 ounces, and Caylloma Mine in Peru produced 9,493 ounces [4][6]. Mine Performance - Séguéla Mine: - Q2 2025 production was 38,186 ounces with an average gold grade of 3.0 g/t, showing a slight decrease in ounces produced but an increase in grade compared to Q1 2025 [5][9]. - Year-to-date production reached 76,686 ounces, aligning with the upper end of annual guidance [10]. - Lindero Mine: - Produced 23,550 ounces in Q2 2025, a 16% increase from Q1 2025, driven by higher gold grade and more ore placed on the leach pad [15][16]. - Year-to-date production totaled 43,870 ounces [19]. - Caylloma Mine: - Produced 9,493 GEO in Q2 2025, maintaining consistent production levels with the previous quarter [20][22]. Divestitures - The sale of the Yaramoko Mine was completed in May 2025, with Q2 2025 production from this mine at 4,721 ounces [6][11]. - The divestiture of the San Jose Mine was completed in April 2025, and production from these divested operations is excluded from the current consolidated figures [6][7]. Operational Efficiency - Lindero Mine's photovoltaic plant generated 1 million kWh in June 2025, supplying 26% of its power demand and reducing diesel consumption by 286,300 liters, contributing to cost efficiency [17]. - The crushing plant capacity at Lindero was enhanced, achieving an average throughput of 1,050 tonnes per hour in Q2 2025, which is 11% above the 2024 average [18].

Core Points - Fortuna Mining Corp. held its 2025 annual general meeting of shareholders, with 188,888,907 common shares represented, accounting for 61.54% of the total issued and outstanding shares [2] - Shareholders voted in favor of all business matters, including the appointment of auditors and the election of all director nominees listed in the Management Information Circular dated May 1, 2025 [2] Voting Results - Jorge A. Ganoza received 159,475,985 votes (99.48% for) with 831,198 votes withheld (0.52%) [2] - David Laing received 154,870,542 votes (96.61% for) with 5,436,641 votes withheld (3.39%) [2] - Mario Szotlender received 154,344,778 votes (96.28% for) with 5,962,405 votes withheld (3.72%) [2] - David Farrell received 148,807,290 votes (92.83% for) with 11,499,893 votes withheld (7.17%) [2] - Alfredo Sillau received 158,876,299 votes (99.11% for) with 1,430,884 votes withheld (0.89%) [2] - Kylie Dickson received 159,252,340 votes (99.34% for) with 1,054,844 votes withheld (0.66%) [2] - Kate Harcourt received 159,513,569 votes (99.50% for) with 793,615 votes withheld (0.50%) [2] - Salma Seetaroo received 159,228,957 votes (99.33% for) with 1,078,227 votes withheld (0.67%) [2] Company Overview - Fortuna Mining Corp. is a Canadian precious metals mining company with operations in Argentina, Côte d'Ivoire, Mexico, and Peru, and exploration activities including the Diamba Sud Gold Project in Senegal [3] - The company focuses on sustainability, producing gold and silver while generating long-term shared value for stakeholders through efficient production, environmental protection, and social responsibility [3]

Group 1 - Franco-Nevada (FNV) is currently outperforming the Basic Materials sector with a year-to-date return of 46.1%, compared to the sector's average return of 9.3% [4] - The Zacks Rank for Franco-Nevada is 1 (Strong Buy), indicating strong analyst sentiment and a positive earnings outlook, with a consensus estimate for full-year earnings having increased by 20.5% in the past quarter [3] - Franco-Nevada belongs to the Mining - Gold industry, which has seen an average gain of 58.4% year-to-date, indicating that FNV is slightly underperforming its industry [5] Group 2 - Fortuna Mining (FSM), another stock in the Basic Materials sector, has outperformed with a year-to-date return of 60.4% [4] - Fortuna Mining has a Zacks Rank of 2 (Buy), with its consensus EPS estimate increasing by 12% over the past three months [5] - The Mining - Miscellaneous industry, to which Fortuna Mining belongs, is currently ranked 138 and has moved up by 10.9% year-to-date [6]

Core Viewpoint - Fortuna Mining Corp. has acquired 15,037,593 common shares of Awalé Resources Limited, representing approximately 15% of Awalé's issued shares, to strengthen its exploration pipeline in Côte d'Ivoire [1][2]. Acquisition Details - The shares were acquired at a cost of US$0.399 per share, totaling gross proceeds of US$6,000,000 [2]. - Prior to this acquisition, Fortuna owned no shares of Awalé [2]. Strategic Importance - The Odienné Project in Côte d'Ivoire is viewed as a compelling opportunity for Fortuna, with an experienced in-country exploration team ready to support advancements from discovery to production [2]. - The investment aligns with Fortuna's long-term growth strategy and enhances its exploration capabilities in the region [2]. Investor Rights Agreement - Fortuna has entered into an Investor Rights Agreement with Awalé, granting pre-emptive rights for future equity financings and top-up rights to maintain its interest in Awalé [5]. - These rights will be maintained as long as Fortuna holds a 10% or greater interest in Awalé [5]. Company Overview - Fortuna Mining Corp. is a Canadian precious metals mining company with operations in Argentina, Côte d'Ivoire, Mexico, and Peru, focusing on sustainability and long-term stakeholder value [6].